The U.S. economy produced fewer jobs in July. While the unemployment rate held steady as the previous month. Nonfarm payrolls (NFP) rose by 164,000 in July, in line with expectations. The jobless rate was unchanged at 3.7%, also in line with forecasts…
The development is likely to keep the market in the current range. The strength of the dollar depends on each currency alone. For example, the EURUSD recovers above 1.1075 levels. This level is likely to hold for today. Below 1.1075 (unlikely) will pave the way to 1.1015 levels. Anyway: a consolidation within/above 1.1075 is likely.
GBPUSD: The pair consolidates within/ around 1.2100/1.2142 levels. The level is likely to holds for today. A clear break below 1.2100 will turn the focus on 1.2000 levels…A sustained breakout above 1.2142 will pave the way to 1.2220 levels.
USDJPY: The first assumed target at 106.60 has been met. A recovery to 107.15 is likely. The expected range within/around 106.60/107.15 levels.
AUDUSD: The pair is under heavy pressure. Most likely will continue this way for today. Expected range 0.6835/0.6725 levels.
USDCAD: The pair is bullish, and continued this way. Eyes on 1.3280 levels. Support comes at 1.3188 levels.